Russian bank to take over Malev

Malev Hungarian Airlines will be taken over by Russia's state-owned Vneshekonombank owing to the "previous owner's weak management and the global financial crisis," Russian First Deputy Prime Minister Viktor Zubkov said at a Budapest news conference. Aeroflot will be Malev's "strategic partner." Malev's owner, the AirBridge consortium comprising Russian investor Boris Abramovich (of the defunct AiRUnion alliance) and two Hungarians, failed to fulfill certain obligations over the past two ...